The following trial balance of Wanda Landowska Company does not balance. Your review of the ledger reveals the following. a. Each account had a normal balance.
b. The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $100.
c. A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively.
d. A debit posting to Advertising Expense of $300 was omitted.
e. A $1,500 cash drawing by the owner was debited to Owner's Capital and credited to Cash.

Debit Credit
Cash 4,800
Accounts Receivable 2,570
Prepaid Insurance 700
Equipment 8,000
Accounts payable 4,500
Property Taxes Payable 560
Owner Capital 11,200
Service Revenue 6,960
Salaries and Wages Expense 4,200
Advertising Expense 1,100
Property Tax Expense 800
20,890 24,500

Required:
Prepare a corrected trial balance.

                                                                     Debit                               Credit

Cash                                                             $4,800

Accounts Receivable                                  $2,750

Prepaid Insurance                                          $800

Equipment                                                    $8,000

Account Payable(debit understated)                                                  $4,500

Property Taxes Payable                                                                          $560

Owner Capital(Overstated by $1,500)                                                 $12,700

Drawings                                                        $1,500

Service Revenue                                                                                    $6,690

Salaries and Wages Expense                        $4,200

Advertising Expense(omission)                     $1,400

Property Tax Expense(understa..)                   $900

Totals                                                             $24,350                           $24,350                                          

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.